Credicorp (NYSE:BAP) Issues Earnings Results

Credicorp (NYSE:BAP) announced its quarterly earnings results on Monday. The bank reported $7.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.25 by ($0.19), FiscalAI reports. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.92 billion. Credicorp had a return on equity of 20.52% and a net margin of 25.04%.

Credicorp Stock Up 2.2%

BAP stock traded up $7.78 during midday trading on Monday, hitting $355.71. The stock had a trading volume of 325,161 shares, compared to its average volume of 412,815. The firm has a market cap of $33.57 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 0.67 and a beta of 0.89. The business has a 50-day moving average of $376.00 and a two-hundred day moving average of $359.91. Credicorp has a 52-week low of $230.45 and a 52-week high of $413.24. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00.

Analyst Upgrades and Downgrades

BAP has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised Credicorp from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $453.00 to $482.00 in a research note on Wednesday, September 16th. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday. UBS Group increased their price objective on Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, The Goldman Sachs Group raised their target price on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $431.80.

About Credicorp

Credicorp is a financial services holding company based in Lima, Peru. Through its subsidiaries, it provides commercial and retail banking, insurance, pension-fund management, investment banking, wealth management, microfinance and digital payment services.

Its businesses include Banco de Crédito del Perú (BCP), the country’s largest bank; Pacífico Seguros; pension administrator Prima AFP; investment and wealth-management firm Credicorp Capital; and microfinance bank Mibanco. BCP traces its history to 1889, when it was established as Banco Italiano.

Credicorp’s operations are centered in Peru, with additional activities in other Latin American markets, particularly through Credicorp Capital.